Coeur Mining, Inc. -- Moody's rates Coeur's new secured debt Ba3, downgrades senior unsecured notes to Caa1, changes outlook to positive

New York, June 25, 2015 -- Moody's Investors Service today assigned a Ba3 rating to Coeur's proposed $100 million senior secured term loan due to 2020. At the same time Moody's affirmed the corporate family rating (CFR) of B3 and the probability of default rating of B3-PD. Moody's downgraded the senior unsecured debt rating to Caa1 from B3, reflecting its position in the capital structure behind the new term loan with respect to claim on collateral. The speculative grade liquidity rating of SGL-2 is affirmed. The outlook is positive. The proceeds of the term loan are expected to be used to repay the $50 million bridge facility obtained to finance a recent acquisition, and for general corporate purposes.

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